Veradigm’s interim CEO, Tom Langan, is set to leave the company after serving in the chief executive role for just over a year, according to a recent securities filing. His departure is scheduled for July 31st, and the company has already initiated a search for a permanent CEO. Langan has decided not to participate as a candidate in the selection process.
Langan has been a prominent figure at Veradigm, formerly known as Allscripts, since 2018, holding positions such as president and chief commercial officer. As part of his departure agreement, Langan will receive a total of $1.4 million, which includes his base salary for the year, a target annual bonus, and additional compensation based on performance. He will also be reimbursed for attorneys’ fees related to negotiating the separation agreement.
While the specific reasons for Langan’s departure have not been disclosed, a Veradigm spokesperson declined to comment on the matter. It remains unclear how long the CEO search process is expected to take.
Langan’s exit marks another leadership change for Veradigm, following the resignations of the company’s previous chief executive and chief financial officers six months prior to his appointment as interim CEO. The company had faced challenges with internal control failures, leading to its delisting from Nasdaq in early 2024. Despite exploring strategic alternatives such as a sale or merger, Veradigm concluded its review earlier this year without reaching a deal.
Despite these setbacks, Veradigm has made progress in addressing its financial reporting delays. The company recently issued its full-year report for 2022 and restated filings for 2020, 2021, and the first three quarters of 2022. Additionally, unaudited financial ranges for 2023 and 2024, along with guidance for 2025, were released in March. However, executives noted that Veradigm is not expected to be current on its financial reporting until sometime in 2026.
As Veradigm navigates through these changes and challenges, the company remains focused on its mission to provide innovative health IT solutions and services to its customers. Stay tuned for further updates on Veradigm’s leadership transition and strategic initiatives.
